Pacific Debt Review

Where does Pacific Debt do business?

Pacific Debt is a debt settlement company based in San Diego, CA. It offers debt relief services to borrowers in 27 state across the USA. Founded in 2002, it is a well-established company that has been in business for over 10 years.

Key takeaways:

• Minimum debt balance of $10,000. Pacific Debt only considers clients who have at least $10,000 in debt. This is a typical requirement for most debt settlement companies. However, it will also only settle individual accounts if they have a balance of $500 or more per account.
• AFCC and IAPDA accredited. Pacific Debt is a member of the American Fair Credit Council (AFCC), which is the largest trade association for the debt settlement industry. It also employs debt resolution specialists that have been trained and accredited by the International Association of Professional Debt Arbitrators (IAPDA).
• Well-established firm. Pacific Debt has been in business for 18 years.
• Types of debt settled. Pacific Debt will only settle unsecured debts. These include credit card accounts, personal loans, payday loans, and medical bills.
• Does not charge a monthly fee. Unlike some debt relief firms, Pacific Debt does not charge a consultancy fee for additional services.
• Only available in some states. Pacific Debt is only available in 27 states.
• Offers in-house debt relief services. Some debt settlement companies act as intermediaries for larger firms. This company uses its own staff to handle debt settlement accounts.

Pacific Debt Pros and Cons:

What does Pacific Debt do?

Pacific Debt offers debt relief services for the following types of debt:

• Unsecured debt, such as credit card debt, personal loans and medical debt

What does Pacific Debt charge?

Pacific Debt operates on a contingency fee basis. Companies operating under a contingency fee model charge fees that are based upon a percentage of the debt at the time the consumer enrolled; occasionally they are based on a percentage of the savings negotiated by the debt-settlement company. Across the industry in general, debt settlement clients typically see a 45% to 60% reduction of their enrolled debt.

Pacific Debt charges fees that range from 15% of the enrolled debt up to 25% of the enrolled debt, depending on the amount of enrolled debt provided.

Debt relief service pricing / costs can vary greatly from one client to another so it's best to speak to Pacific Debt directly to determine an accurate quote.

Does Pacific Debt offer a guarantee?

What is the minimum debt Pacific Debt will consider?

Does Pacific Debt perform its own servicing in-house?

Yes, Pacific Debt employs its own in-house servicing staff who manage the process and negotiate settlements on behalf of their customers.

What accreditations does Pacific Debt have?

The two main trade associations in the debt relief services space are the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA).

• Pacific Debt is an accredited AFCC member.
• Pacific Debt is an IAPDA member.